Americans are facing higher costs. Trump was elected on promises to lower prices for inflation-weary consumers and high inflation could imperil his agenda.

Inflation in the US rose more than expected in January, reinforcing expectations that the Federal Reserve may delay interest rate cuts. The consumer price index (CPI), which tracks the cost of goods and services across the economy,

The Consumer Price Index for All Urban Consumers increased 0.5% on a seasonally adjusted basis in January, after rising 0.4% in December, the U.S. Bureau of Labor Statistics reported today.